Canada’s diamond bourse heads east

Eyeing the strong and growing demand for diamonds in China, the Diamond Bourse of Canada (DBC) has set up a permanent liaison office in the Shanghai Diamond Exchange.

The DBC’s aims are to establish bilateral trade relations between its members and the members of the Shanghai Diamond  Exchange; to come up with a China-specific marketing strategy for Canadian diamonds; and to encourage direct Chinese  investment in our emerging diamond industries.

“We believe that we are faced with a unique opportunity here to create and establish a distinct value proposition for Canadian  polished diamonds within the rapidly expanding Chinese diamond market,” said DBC chairman Bhushan Vora in a press release.

“On the whole, the average Chinese consumer already has a very favourable perception of Canada,” he continued. “To capitalize  on this foundation though, it is important that the marketing of Canadian polished diamonds transcend its usual selling points of  ethics, sustainability, or quality and focus more on selling and marketing ‘Canada’ and the idea of Canada, to the Chinese end  consumer.”

Adam Shubinsky, the bourse’s general manager, said the venture has the potential to strengthen the vertical components of Canada’s diamond industry, from mining and manufacturing, to wholesale and retail.